On May 22, D-Wave Quantum rose 7.66% in pre-market trading, trading at $27.94/share, with trading volume of $11.59 million. The stock continues its multi-session rally driven by a major policy catalyst.
On the news front, D-Wave Quantum announced it has signed a preliminary memorandum of terms with the U.S. Department of Commerce to receive up to $100 million in funding through the CHIPS and Science Act, aimed at accelerating U.S. quantum computing technology development and commercialization. The funding will support next-generation quantum system research at the company's U.S. and Canadian facilities.
This policy tailwind has fueled a sharp rebound following a prolonged selloff triggered by the company's Q1 earnings, which showed revenue of $2.86 million, down approximately 81% year-over-year, and a net loss of $18.36 million. However, record bookings of $33.4 million in Q1, up nearly 2,000% year-over-year, highlight strengthening commercial momentum that contrasts with near-term financial weakness.
D-Wave Quantum is a pioneer in quantum computing, providing full-stack quantum computing systems, software, and services, with a focus on commercial-grade quantum application deployment across logistics, financial services, drug discovery, and other industries.
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